Heavy Construction Equipment Market Things to Focus on to Ensure Growth Prospects Hits $273.5 billion by 2030

The heavy construction equipment market has witnessed significant growth over the past decade, owing to the rise ininvestment in various end-user industries such as construction, infrastructure, mining, and others.

A number of players are expanding their business around the globe, owing to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for the heavy construction equipment.

The global heavy construction equipment is expected to reach $240.49 billion, growing at a CAGR of 4.2% by 2027. The report highlights the major segments, market characteristics, top investment pockets, growth by segmentation, and competitive landscape.

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The global heavy construction equipment market is analyzed across equipment type, application, and end-user.

Based on equipment type, the market is classified into earthmoving equipment, material handling, heavy construction vehicles, and others. The earthmoving segment contributed to the highest market revenue, accounting for more than half of the total market. At the same time, the material handling segment is expected to manifest the fastest CAGR of 6.2% throughout the forecast period.

Based on end-user, the global heavy construction equipment market is divided into infrastructure, construction, mining, oil & gas, manufacturing, and others (forestry and agriculture). The construction segment contributed for the highest market share with more than two-fifths of the total market revenue. However, the manufacturing segments are expected to grow at the fastest CAGR of 6.6% from 2020 to 2027.

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Top Players:

The global heavy construction equipment market report includes a comprehensive analysis of the major market players such as AB Volvo, Caterpillar Inc., CNH, Deere & Company, Doosan Infracoe, Hitachi Machinery Construction, JCB, Komatsu, Liebherr AG, and Sany.

Key Findings Of The Study:

• The report provides an extensive analysis of the current and emerging heavy construction equipment market trends and dynamics.
• Depending on end-user, the construction segment dominated the heavy construction equipment, in terms of revenue in 2020 and manufacturing is projected to grow at a CAGR 5.3% during the forecast period.
• By type, the earthmoving equipment segment registered highest revenue in the heavy construction equipment market share in 2020.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the heavy construction equipment are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the heavy construction equipment industry.
• The report provides an extensive analysis of the heavy construction equipment trends and emerging opportunities of the market.

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